1.11 lakh sq ft office space leased by BA Continuum India at Mumbai
Bank of America's captive services arm, BA Continuum India, has acquired 1.11 lakh sq ft office space at Chalet Hotels' commercial tower in Mumbai's Powai. Leased space is spread across two floors of the tower.
The space is leased for 11 years at a total rental payout commitment of over Rs 236 crores. Under the agreement, there is a rent escalation clause, under which the rent will increase by 15% over the last paid rent on October 1, 2027, and thereafter by 15% every three years.
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